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Rajasthan-based energy major Cairn India has disclosed that an agreement has been signed with Reliance Industries for supplying crude, which it produces at the Mangala crude oil field in Barmer, to the latter’s Jamnagar refinery.
"The implied price realisation represents an average 10-15 percent discount to Brent (crude) on the basis of prices prevailing for the six months to September 2009," said Cairn India in a regulatory statement produced before the Bombay Stock Exchange (BSE).
The agreement comes after the government allowed private refiners to buy crude from the Mangala oil fields.
